With New Luxury Sedan, Fiat Chrysler Looks for Rebirth of a Brand

Vehicle is first from auto maker’s investment plan aimed at leveraging Alfa Romeo’s racing history

ARESE, Italy—Fiat Chrysler Automobiles NV on Wednesday unveiled an Alfa Romeo sedan that it billed as the start of the renaissance of the storied sports car brand and a key part of its plan to lift sales by 50% by 2018.

The luxury sedan is the first vehicle from a €5 billion ($5.6 billion) Alfa investment plan that aims to leverage the brand’s...